BioCentury
ARTICLE | Financial News

MEI raises $35 million in follow-on

October 26, 2013 12:03 AM UTC

MEI Pharma Inc. (NASDAQ:MEIP) raised $35 million through the sale of 4.4 million shares at $8 in a follow-on underwritten by Stifel; Cowen; Wedbush PacGrow; and Roth Capital Partners. MEI proposed the follow-on late Thursday, when its share price was $9.60. The company's pracinostat is in a Phase II trial to treat myelodysplastic syndrome (MDS), with top-line data expected in December 2014. MEI has exclusive, worldwide rights to develop and commercialize the class 1 and 2 oral histone deacetylase (HDAC) inhibitor from S*BIO Pte. Ltd. (Singapore). ...